Kazakh Telecom has announced the sale of its subsidiary, Mobile Telecom Services (MT-S), to Qatari company Power International Holding for $1.1 billion. The Minister of Digital Development, Zaslan Madeev, stated that the new investor has committed to expanding the MTS network.
The shareholders of Kazakh Telecom, a state-owned company, approved the sale earlier this month. Although the exact value of the deal was not disclosed by the company, it is known that Kazakh Telecom currently holds over 60 percent of the mobile communications market in Kazakhstan through its two subsidiaries, MT-S and KCELL.
